Business Ideas Blog

How to become a millionaire? they would sure answer that it takes a bit of inspiration, a bit of luck and a lot of hard work. If you are at your mid teens and wonder how to become a young millionaire, then these stories will be a good fuel for thought. If you have left school long ago, but dream if becoming a millionaire is still fresh and actual, then consider this post a source of inspiration. If these teenagers did it, then you can do it as well!

1. In the 2002 at the age of 14 years, Fraser Doherty started making jams in the kitchen of his parents in Edinburgh. By the age of 16, Doherty left school and devoted all his time to this business. In 2009, revenue of SuperJam reached $ 1.2 SuperJam million. Since then one of the youngest millionaires has published 2 books and various Superjam merchandise, and prepares to release baking mixes and kids jams which contain no seeds. The brand is now selling in over 2,500 stores across 6 countries and ever expanding.

2. In 1996, Michael Furdyk, who was then 16 years old, started MyDesktop.com, a site about computers. His “office” was in the basement of his parents’ home in a suburb of Toronto. MyDesktop.com was full of tips that Furdyk was collecting from all over the web. In one of the chats he found his classmate Michael Hayman from Australia, who soon moved to Toronto to help building business. Tightening the belt, comrades found (by barter) servers and office. Soon MyDesktop.com reached monthly revenue of $ 60 000. In 1999, Furdyk, Hayman and their third partner sold company’s site Internet.com for more than $ 1 million.

3. In 2005, a 15-year-old Catherine Cook and her 17-year-old brother, Dave, leafed through the pages of their school’s annual album, and decided to create its free online version. Soon Cooks started cooperation with social network Zenhex.com, doubling the number of visits to their site. By 2006, MyYearbook.com raised $ 4.1 million from US Venture Partners and First Round Capital. Business has attracted advertisers such as Neutrogena, Disney and ABC, the number of participants has reached three million worldwide. Teenage millionaires Cooks claim that annual sales measure in seven-digit numbers.

4. In 2002, when Milun Tesovic was 16, he launched a site where he published lyrics of his favourite songs, just for fun. Two years later he decided to turn it into a business. Today, Metrolyrics.com database includes over 2 million songs and 20 employees. Revenues from advertising reached $ 1 million in 2007, when Tesovic was only 21. Tesovic combined work with studies at the University of Simon Fraser in British Columbia in Canada, where he received a master’s degree business. “I get no education for a career – he says – it contributes to personal growth.”

5. 14-year old Ashley Qualls from Detroit Qualls created her multi-million dollar website with $8 borrowed from her mother for domain registration. She created a site that was initially planned as her personal online portfolio with photos and graphics. But soon, following the demand, it grew to a site offering free designs for MySpace pages and a guide for teenagers who want to learn how to create your own graphic design Whateverlife.com. In March 2006 Qualls reported to receive an offer from unknown buyer to sell the site for $ 1.5 million, but rejected it.

6. Adam Hildreth, At the age 19

Business: Internet marketing and security (Dubit Limited)At the age of 17, Adam Hildreth started a social networking site and he named it Dubit Limited. Initially, it was exclusively for people living in the United Kingdom and allowed them to play games and share informative articles. It took Adam less than a year to make it the biggest networking site in the country. In 2005, at the age of 20, Adam, along with Peter Maude, founded another technology website named crispthinking.com for monitoring and protecting children. And later, he took his services to fortune 500 companies. Today, Crisp protects 380 million online users worldwide. He was among 20 richest teens in U.K. In 2008, Sunday Times Rich list featured him as the 23rd richest among 100 young richest people in U.K.

7. Ashley Qualls, At the age 17

Business: Online design (Whateverlife.com) Back in 2005, at the age of 14, Ashley launched her website called Whateverlife.com which would provide free MySpace layout and tutorials on how to do graphic designs and coding of their favorite template layouts. By the end of 2007, when the popularity of MySpace was all time high, WhateverLife would attract 7 million unique visitors every month. According to some reports, Ashley made close to $2 million from her website.

8. Catherine and David Cook , At the age 16

Business: Social networking site (myYearbook) Catherine Cook was just 15 when she and her brother David Cook developed MyYearBook, a social networking site for teenagers. In 2005, they took help from their elder brother Geoff, who invested $250,000 for its maintenance. The website was launched in the same year and soon became the third most popular social networking site in the U.S.A.

Today, MyYearBook has 33 million registered users and is not restricted to teenagers and social networking. It offers plenty of things such as games, live chat, photo and video sharing and more.

9. Chris Phillips ,At the age 17

Business: Website Dot5Hosting, In the year 2002, at the age of 17, Chris Phillips created a website named Dot5Hosting and within two years his earning crossed the million dollar mark. In 2004, he was one of the richest teens in the United Kingdom.

Business: Website BizChair.com ,At the age of 14, with the investment of $500, Sean Belnick founded Bizchair.com. He started importing chairs from China and selling them online. His honesty in providing quality products brought him instant success. In 2006, his $500 investment gave him $24 million in revenue. The company opened 327,000-square-foot warehouse in Canton to store products and expanded from offering office chairs to school furniture, home furniture, and medical equipments.

11. Cameron Johnson

Started at the age 9 and became millionaire before graduating from high school

Business: Website ,In 1994, at the age of 9, Johnson started his first business of selling his sister’s Beanie Babies over the Internet out of his home in Virginia. At the age of 12, he successfully made $50,000 and within 3 years, his company started generating $15,000 revenue per day. in 2000, he was the youngest American who was appointed to the board of a Tokyo-based company. In 2007, he wrote a book titled “You Call the Shots: Succeed Your Way – and Live the Life You Want – with the 19 Essential Secrets of Entrepreneurship” which became an immediate bestseller. Over the years, Cameron has been appearing in several magazines, popular T.V shows and newspapers; his coaching inspires thousands of people.

12. Fraser Doherty, At the age of 14

Business: Retailers in the UK (SuperJam), Fraser Doherty, a Scottish Entrepreneur, is the CEO of ‘SuperJam’. He started his business in a quite traditional way in home kitchen using his grandmother’s recipe. With the growing demand, he tweaked with the receipt and gave it a name ‘Superjam’. He successfully took his business to a new height expanding his customer base from his friends and neighbors to approximately 184 Waitrose stores in U.K.

13. John Magennis, At the age 14

Business: web designer ,In the year 1994, 14 year old John Magennis, a self taught programmer, started his career as a web designer and would charge only $15 to create a website for a company. Within short period, with the growing demand he began charging as much as $30,000 for a single website. In less than two years, he started earning half a million dollars annually.

14. Mike McDonald. This enterprising young man went a different route than most teen millionaires with his talents. He got involved in the world of professional poker playing. Scoff if you want but he’s earned millions from his poker skills. He earned $1.4 million in just one large poker game last year. He was 18 years old.

15. Carl Churchill. This UK web designer has been called the British Bill Gates. He started his business at the age of 12. By 19 he was making a turnover of over one million pounds. He is predicted to be worth over £100 million by 2020.

16. Brett Klasko. This young man was only 14 when he first became a business executive. At he was running a multi-million dollar financial dot-com company. He serves as an inspiration to young business people today.

17. Anand Lal Shimpi. He was just 17 when he created anandtech.com and it was already earning over $1.5 million dollar in ad revenue that year. It continues to be a highly successful tech business today. He remains the CEO and Editor-in-Chief of the organization.

18. Jayson Meyer. Building customized computers can be worth a lot of money as this young man knows since his company doing just that was earning over $1.5 million in revenue by the time that he was 17.

19. Ephren Taylor and Michael Stall. These two paired up to launch a business called GoFerretGo which helps teens find employment. The site was quickly valued at over $3 million. Taylor had started into business when he was only 12 making video games.

20. William Felix. How successful can a lawnmower company be? It can be a million-dollar business if you’re good at which was proven by the success of this seventeen-year-old.

21. Sean Belnick. This kid was 14 when he spent just three days forming a business plan and creating a business called BizChair which sells office furniture and other supplies. In less than half a dozen years, he was earning $50,000,000 per year! The business consistently ranks among the top retail businesses in the world.

This is a really distinctive business plan, and excellent for somebody who is well spoken, communicates well and may work patiently with folks.

Have you ever had a conversation with somebody that had an accent, and you probably did not very hear what they said as a result of you were therefore targeted on their weird accent?

Though we tend to never wish to admit it, this happens lots. It's onerous to be taken seriously when nobody listens to what you're saying. I have found this to be true once I am watching coaching DVD’s or tv shows, and that i notice myself irritated and having a tough time specializing in the show or material as a result of I keep obtaining distracted by the accent.

Now this can be not being judgemental if you're an English speaking native, it’s simply that we tend to are used to hearing our language spoken a particular approach. And alternative accents are pretty, and in their own language folks sound well spoken and fluent, however the nuances of accent don’t translate well when learning a replacement language. If this business plan interests you, then establish a much-needed business as an Accent Reduction Coach, and facilitate professionals with their significant accents to talk additional clearly. Large percentages of the foreign speaking population that move to the present country are well educated and have skilled jobs. It will be onerous for them to succeed if they are doing not speak English well and want to speak with others among their professions. They usually have learned English before they move here, however usually times it's a style of English that we tend to don't speak in our everyday routines.

They usually times can learn to talk English from folks of their own language and acquire an equivalent significant accent as their instructor, so they're equally tough for us to grasp. If you reside in giant cities in states like California, New York, and Florida accent reduction services may well be a true possibility as a business for you. These states are where several newcomers move to figure and will use the services you provide them.

To get started with this business plan it's necessary that you just perceive and use correct English yourself. For this sort of business, it's conjointly necessary that you just have patience with folks and revel in teaching. Learning techniques that skilled speakers use in their own language may well be useful with this business too. Usually these exercises work well for all folks to apply. they assist us pronounce our words clearly, and keep us from being lazy with our pronunciation of words. It is smart to try to to some analysis on the mother tongues of the teams you'd wish to teach. In some languages, they're not used to creating sure sounds that we tend to use in our language. If this is usually true they often times can substitute a distinct sound, and it's vital that you just facilitate them to beat this apply. This is conjointly a decent place to form certain that you just have mouth or vocal exercises to beat the mispronunciation. analysis will sway be very useful in overcoming these changes in speaking English. You will ought to decide whether or not you wish to show categories or people. If you select categories, arrange what percentage you're thinking that you'll be able to handle per category, and where you may be ready to notice an area to use for this. Often times you'll be able to use your native library if you confer with them 1st and book the area for the categories. this might prevent cash at the start of your career, till you'll be able to establish a college or business front.

As ideas for atiny low business go, the beginning up prices required for this service are pretty minimal. The major a part of your initial investment ought to be in advertising. Investing during a quality brochure would be a decent plan too, explaining why folks would like your services and the way they're going to take pleasure in your services. Also, embody a way to contact you and what your fee's are.

Generally, categories are cheaper per person than one-on-one options; take into account this when selecting the fee's you propose to charge.

Start your business with conservative fee's initially till you've got an inspiration of what the market will handle. bear in mind though that usually times these are skilled those that are capable of paying well for your services.

You may conjointly provide your services to corporations that rent foreigners. They usually times are willing to pay quite well for educating their staff.

If this may facilitate their staff communicate additional simply, which is able to build them more practical, they're going to be additional willing to take a position in your services.

If you're a really effective coach, it's doable to charge $100.00 or additional per hour for your services, counting on where you reside.

So if you're longing for ideas for a tiny low business that are distinctive and specialised, and have the talents required to be an Accent Reduction Coach, you'll have a successful business during this field.

And your clientèle can grow quickly if you're smart at serving to foreigners learn to pronounce English additional accurately.

If this can be a district you are feeling snug with, why not attempt it? you will be terribly happy that you just did!

There are hardly any businesses of any size that don't believe a presence on the net to stay their customers informed and attentive to changes that may have an effect on them. They use their sites to announce sales, modification business hours or to provide contact data. they will use their web site to permit the client to provide feedback, whether or not it's positive or negative. it's vital that this web site be well done and skilled, that it works properly which it's simple to navigate, even for people who don't seem to be extremely technology fans. one in every of the most effective and fastest growing little businesses is as an online designer, the one that is making these websites for the tiny businesses that require them.

Getting Started As an online Designer

The first step to changing into an online designer is to find out what it truly takes. whereas there are some templates that you just will use which will permit you to form and publish an internet site while not coaching and in precisely a brief quantity of your time, they're not artistic nor are they extremely skilled in look. it's vital to grasp that the higher your work is, the additional you're possible to be suggested by your glad customers. as a result of websites are updated and altered and even utterly rebuilt frequently, you wish to be the primary person who your loyal customers return to. obtaining coaching as an internet site designer will be a decent investment into your future and your own growing business.

Getting the Word Out

After earning a degree or a certificate as an internet site designer, it's time to start out obtaining the word out so everybody is aware of that you just are able to build their web site. At now, it's vital to create your own website not solely to advertise your business however to showcase your talents and abilities moreover. Be vigilant along with your website as a result of it's serving as an ad for your business and is that the means that a lot of individuals are going to be progressing to grasp you.

Other ways that of obtaining your name out are to try to to some cold calling either head to head or via phonephone. Do to a small degree analysis on the companies that you just would love to focus on and ensure that you just are discussing their selling desires moreover because the condition of their current web site if they need one. If they don’t, your job is to clarify what quantity they have one.

Setting Your Rates

When you are 1st beginning out along with your internet design/build business, you wish to line your costs toward the lower finish till you build a solid name. If you have got many recurring customers, you may need {to give|to offer|to provide|to present|to administer|to permit|to convey|to grant|to relinquish} them costs which will allow for slight rate will increase over the years while not driving them away however don't set them thus low that you just don't seem to be attending to create cash for the work that you just do.

Let's face it; it's not easy being a small business owner or a solo professional. In addition to creating effective marketing plans and marketing strategies that will get paying customers through the door, we need to be on top of all the other important aspects of running a business.

With only 24 hours in a day, one brain, and two hands with which to take care of everything, we've got to find ways to work smarter-not harder-if we want to build successful businesses without sacrificing our sanity in the process.

There are a number of ways to leverage your time so you can maximize your profits. Below are my top 10:

1. Get in motion by eliminating the procrastinator's best friend: "Messy Desk/Office Syndrome." If that is something you're plagued with, you'll find slaying the beast a lot easier if you take what I call the "The 3 D System" approach to organization which directs that you look at what is on your desk or what is cluttering your office and either Dump it, Deal with it or Delegate it.

2. Outsource everything that is not the best use of your time. Look at where you make your money, and if it's not at bookkeeping, Web site maintenance, or writing marketing materials, for example, farm those tasks out to someone who can do them far more quickly and efficiently than you can.

3. Take things from your "to-do" list and block off actual times for working on specific items. For example, 10-10:30 AM might be for returning phone calls; 1-2:00 PM for working on an article; 2-3:00 PM could be for updating your marketing plan or for researching business networking events. You'll be amazed at how much more you get done when you assign specific times for doing things.

4. Resist the temptation to answer the phone every time it rings as a new conversation will not only distract you from what you are doing, but it may lead you to abandon the task all together as you become drawn into resolving other matters. If you work alone, pretend you have a secretary and that you've told him or her to "hold all calls." Then return the calls when you have both a clear mind and the time to tackle them.

5. Take charge of your e-mails; don't let them take charge of you. Resist temptation and commit to checking your in-box only twice a day: first thing in the morning and around 3:00 PM.

6. Set specific, realistic goals with timelines and commit to taking at least two action steps every day.

7. Avoid becoming overwhelmed by chunking every task down into manageable bite-sized pieces. Not only will you get more done, you will feel terrific as you realize how much you have accomplished.

8. Tackle the things you hate doing first. Like a trip to the dentist, you'll feel an awful lot better when that phone call you've been dreading and avoiding is finished.

9. Build accountability into everything that is difficult or important to you. It doesn't matter if it is crafting your marketing message, writing press releases, or putting together your media kit, you will find you will get a lot more accomplished if you are accountable to someone for having completed your actions. If you are not currently working with a business coach, find a neutral party to help you stay on track.

10. Stop spinning your wheels and start making more money by having a clearly defined niche to which all your marketing efforts are directed. Make sure your target market is one that a) has a need for your services, b) is underserved, and c) can afford your fees. Be as specific as possible when determining your niche and create marketing materials that address its needs and that position you as the solution your target market has been looking for.

Bottom Line: Efficiency is the key to productivity and productivity is the key to increased revenues.